|
|
|
Press Releases
MILESTONE SCIENTIFIC ANNOUNCES PRELIMINARY FOURTH
QUARTER AND 2009 YEAR-END RESULTS
Piscataway, N.J. – (PR
NEWSWIRE) – February 22, 2010 – Milestone
Scientific Inc. (OTCBB:MLSS), the recognized leader in advanced,
computer-controlled injection technologies, today announced preliminary
results for the three and 12 months ended December 31, 2009.
The Company expects to report full year revenues between $8.4 million
and $8.5 million. These results will compare to revenues of $6.6
million reported for 2008. Revenues for the three months ended
December 31, 2009 are expected to exceed $2.2 million, which will compare
to $1.85 million reported for the same three month reporting period in
2008. Milestone’s results are also expected to reflect material
strengthening of its balance sheet due to the recent conversion of $1.3
million in debt to equity at $1.58 per share. The Company also
anticipates confirming that it achieved certain financial objectives
related to enhancing its cash position.
“We are very pleased with our performance in the fourth quarter,
particularly in view of the fact that we were not able to benefit from
shipment of an approximate $450,000 order for STA handpieces
prior to year end” noted Leonard Osser, Milestone’s Chief
Executive Officer. “With that shipment now processed and STA unit
and related handpiece sales showing strength, 2010 is off to a very good
start and shows promise to be an exciting growth year for Milestone.”
The Company expects to report its audited 2009 financial results on
or before March 31, 2010, and will host a conference call to discuss
the results and other corporate developments at that time.
About Milestone Scientific Inc.
Headquartered in Piscataway, New Jersey, Milestone Scientific is engaged
in pioneering advanced computer-controlled injection technologies for
the medical and dental markets; and currently sells its award-winning
products through a global distribution network serving North America,
Asia, Africa and Europe. For more information on the STA
System and other innovative Milestone products and technologies,
please visit the Company's web sites found at www.milestonescientific.com and www.STAis4U.com.
Safe Harbor Statement
This press release contains forward-looking statements
regarding the timing and financial impact of Milestone's ability to implement
its business plan, expected revenues and future success. These statements
involve a number of risks and uncertainties and are based on assumptions
involving judgments with respect to future economic, competitive and market
conditions and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond Milestone's
control. Some of the important factors that could cause actual results
to differ materially from those indicated by the forward-looking statements
are general economic conditions, failure to achieve expected revenue growth,
changes in our operating expenses, adverse patent rulings, FDA or legal
developments, competitive pressures, changes in customer and market requirements
and standards, and the risk factors detailed from time to time in Milestone's
periodic filings with the Securities and Exchange Commission, including
without limitation, Milestone's Annual Report for the year ended December
31, 2008. The forward looking-statements in this press release are based
upon management's reasonable belief as of the date hereof. Milestone
undertakes no obligation to revise or update publicly any forward-looking
statements for any reason.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group
Dodi Handy, President and CEO (Twitter: @dodihandy)
For Media Inquiries: Kathy Addison, Director, Elite Media Group (Twitter:
@kathyaddison)
407-585-1080 or via email at mlss@efcg.net
|
